Home' Trinidad and Tobago Guardian : January 29th 2014 Contents RAPHAEL JOHN-LALL
Crime and drugs are having a
negative impact on T&T s invest-
ment climate, Sophie Sirtaine,
country director of the World Bank
for the Latin America and
Caribbean warned yesterday.
"These factors do impact on the
investment climate. We just had a
dialogue this morning with the Min-
ister of Finance on this topic and
we are going to have discussions
with the National Security Council
about this. The World Bank has
developed significant experience in
this area across Latin America. You
are not alone in this and many other
countries face this problem," she said
yesterday during a media briefing
hosted by the World Bank and Min-
istry of Trade.
Sirtaine gave examples of how the
World bank has assisted other coun-
tries in this area.
"We did laboratories in Jamaica
and heat maps allowing citizens
monitoring by going online and see-
ing what is happening in commu-
nities. We have also helped govern-
ments in building infrastructure.
Sometimes it is just a street light or
a pothole that is holding back cars
and making them targets. We are
working on prevention and aware-
ness," she said.
Trade Minister Vasant Bharath
said one of the main methods for
solving crime is job creation.
He explained: "Crime is not a new
phenomenon. It is a deep seated
problem. If we can create the eco-
nomic activity and make the econ-
omy more productive and create
more jobs, I think in the long term
we will see crime levelling off and
declining because we will have more
people put in productive work."
Sirtaine said improvements in
doing business efficiently will impact
on growth of the economy and pro-
"It will provide the people of T&T
with security and the jobs they need.
I am energised by the depth of the
reforms in T&T to make doing busi-
ness easier," she said.
"It increases foreign direct invest-
ment (FDI) in the country and it
makes the environment more sup-
portive of domestic firms growth.
These are measures to help transform
the economy and support diversi-
Bharath said over the last 18
months Government had embarked
on an aggressive programme to
improve the ease of doing business
with the aim of making T&T com-
petitive with any part of the world.
"We made a bold claim we would
be in the top ten in the world in
terms of places to do business. We
have since moved from 88 in the
rankings to number 66 based on the
work we are able to do and in 2014
we hope to improve our rankings,"
the minister said.
Bharath met with the World Bank
delegation on Monday. The team
was in T&T to assess the status of
the investment climate projects,
including those projects related to
improving the ease of doing business.
The delegation, which was led by
Sirtaine, included Marialisa Motta,
director, Finance and Private Sector,
Latin America and the Caribbean
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SAN FRANCISCO---Apple's holiday
season proved to be a letdown, even
though the company sold a record
number of iPhones and iPads during
its latest quarter.
The results further crystalised the
challenges facing Apple as the world's
most valuable company struggles to
lift its stock back to where it stood at
its peak of more than US$700 in
That was before investors began to
fret about fiercer competition in
mobile devices and the lack of a
breakthrough product since the iPad
came out nearly four years ago.
Apple's management amplified those
concerns with a revenue forecast for
the current quarter of US$43 billion,
falling about US$3 billion below
The company's projection also raised
the unsettling spectre of Apple's
quarterly revenue declining from the
prior year for the first time in more
than a decade.
It last happened during the opening
three months of 2003. (AP)
Apple's results disappoint investors, stock stumbles
World Bank official:
Crime hurting T&T's investment climate
Cuba's President, Raul Castro, welcomes Prime Minister Kamla Persad-Bissessar SC to the opening ceremony
of the Caribbean and Latin American (Celac) Summit in Havana, Cuba, yesterday. At right is Minister of
Foreign Affairs, Winston Dookeran. PHOTO COURTESY THE OFFICE OF THE PRIME MINISTER
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